NetBrands Corp. reported its financial results for the third quarter and the first nine months of 2025, revealing a significant shift in its business operations and financial performance. For the three months ended September 30, 2025, the company generated mining revenue of $7.1 million, a notable increase from zero revenue in the same period last year. However, the company incurred a net loss of $1.2 million for the quarter, compared to a loss of $56,239 in the prior year. For the nine months ending September 30, 2025, the net loss totaled $1.3 million, up from $1.0 million in the same period of 2024.
The company's total assets surged to $52.0 million as of September 30, 2025, compared to just $1.6 million at the end of 2024. This increase is primarily attributed to the company's pivot towards cryptocurrency mining and the acquisition of mining equipment. The total liabilities also rose to $2.8 million from $2.4 million, driven by increased accounts payable and accrued expenses, which reached $1.5 million, up from $1.2 million at the end of 2024. The company’s stockholders’ deficit widened to $2.76 million, reflecting ongoing operational losses.
Strategically, NetBrands has undergone significant organizational changes, including a rebranding and a shift in focus to blockchain infrastructure and cryptocurrency mining. The company formed a wholly-owned subsidiary, DigiHash LLC, and purchased ten ASIC miners to support its new business model. Additionally, it signed a hosting agreement with Simple Mining LLC to manage its mining operations. The company is also in discussions to develop a dedicated Bitcoin mining facility in Iowa, leveraging the region's low electricity costs.
Operationally, NetBrands has reported a substantial increase in its common stock, with shares outstanding rising to 85.4 million as of September 30, 2025, compared to 22.6 million at the end of 2024. The company’s employee headcount has also increased, reflecting its expansion into the blockchain sector. The engagement metrics indicate a growing interest in its mining operations, although specific user statistics were not disclosed in the filing.
Looking ahead, NetBrands Corp. aims to further develop its cryptocurrency mining capabilities and expand its market presence. The company is evaluating potential sites for its planned mining facility and is focused on optimizing its operations to enhance profitability. Management remains optimistic about the future, citing the potential for growth in the blockchain technology sector and the strategic decisions made to position the company for success in this evolving market.
About NetBrands Corp.
NetBrands Corp. is a diversified holdings company focused on developing and marketing snack foods and gourmet products through brand ownership, distribution, and e-commerce. It owns multiple trademarks and sells products via retail, vending, and online channels globally. The company seeks acquisitions to expand its product portfolio and digital assets, leveraging consumer trends toward health, convenience, and gourmet snacks in competitive markets.
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